Security specialist Arctic Wolf recently raised 409 million euros ($401 million) in investment capital in the form of convertible bonds.
With the current investment, the security specialist aims to further expand its business. Recently, Arctic Wolf has seen a significant increase in demand for its solutions and is therefore expanding significantly.
In addition to increasing the headcount, the security specialist acquired incident response startup Tetra Defense at the beginning of this year. It also opened an EMEA headquarters in Newcastle, UK, earlier this year. In total, the company says it now has more than 3,000 customers.
Technology Arctic Wolf
Specifically, Arctic Wolf provides managed security services that allow companies to protect their technology infrastructure from attacks. These services monitor the infrastructure for malicious activity and also look for intrusion attempts. When an intrusion attempt is detected, the services help contain that intrusion and provide the affected company with recommendations for further resolution of the incident.
To detect malicious activity on infrastructure, the security specialist uses and internally developed SecOps platform. This platform automatically collects data about possible security incidents from customers’ IT environments. The platform then combines this data with information about hacking campaigns and other sources. On this basis, it concludes whether an attack is actually involved.
Arctic Wolf collects the data from – in its own words – more than 2 trillion different security events per week. Machine learning is then applied to this. The specialist has also developed a number of customizable workflows that help detect breaches according to customer requirements
Furthermore, the services allow customers to access this data themselves. This can be raw data as well as pre-processed data for faster analysis. In this way, internal security specialists of companies can counter potential breaches themselves.
A total of 917 million euros raised
The investment round was led by private investor Owl Rock Capital. Other participants included Viking Global Investors, Canadian pension fund Ontario Teachers Plan and Neuberger Berman. In total, Arctic Wolf has already raised 917 million euros ($900 million) in investment capital since its inception in 2012.